nuclear-news

Apollo Global Management Inc in Talks to Partly Finance EDF’s Hinkley UK Nuclear Power Plant

By Aaron Kirchfeld, Silas Brown, and Francois de BeaupuyOctober 15, 2024 

(Bloomberg) — Apollo Global Management Inc. is in talks with Electricite de France SA to provide financing for a nuclear power plant under construction in the UK, people with knowledge of the matter said. 

The alternative asset manager has held early discussions about providing a complex mix of equity and debt that may total billions of pounds, the people said, asking not to be identified because deliberations are private. 

EDF has been holding meetings with a series of investors including investment firms, sovereign wealth funds and infrastructure specialists to raise as much as £4 billion ($5.2 billion) through a deal that would give investors a stake in the Hinkley Point C project, Bloomberg News reported last week. Centrica Plc. is one of the companies considering investing. 

The estimated cost of building Hinkley has risen to as much as £47.9 billion in current terms, due in part to lingering labor shortages and supply chain issues. The first of the two reactors at the site is scheduled to become operational in 2030 — five years later than initially planned — under EDF’s base-case scenario. 

Talks about financing Hinkley are at an early stage and may not result in a deal, the people said. Representatives for Apollo and EDF declined to comment………………… https://www.bnnbloomberg.ca/investing/2024/10/15/apollo-in-talks-to-partly-finance-edfs-hinkley-uk-nuclear-power-plant/

October 19, 2024 - Posted by Christina Macpherson | business and costs, UK